NioCorp Developments Ltd (NB)

FACTS: This is the current return on NB investment. Mark Smith NEVER FAILS TO DISAPPOINT!!!! Get rid of those MF parasites from GXII off the BOD and get some credibility back Mark!

6-month
-24.74%
Year to date (YTD)
-5.85%
5-year
-54.51%
10-year
-28.71%

yea for the shorters and day traders. A nice .55 spread from the low-high.

Someone wanted this to close unchanged.

LAST PRICE
4.9900

Bid / Lots
4.9900/ 8,764

Ask / Lots
5.0000/ 16,429

Open / Previous Close
5.2100 / 4.9900

Day Range
Low 4.7700High 5.3200

52 Week Range
Low 2.1700High 12.5800

Volume
4,214,481above average

Look at our little green speck in the sea of red today. Have we entered the season where valuation and fundamental analysis matter again?????

Ferroniobium price (US$/t Nb in alloy) (Aug. 2020-present)

https://stgm.com.au/pdf/25fd7391-b663-4e18-9cf6-5950c2b3af08/Petra-Capital-Research-Coverage.pdf

Nice $1.20, that is a pretty pathetic price and we have seen that a few times in the past decade. We will never see the returns that were described to us years ago. We will be very fortunate if we ever see $3-5 ($30-50)

Summary and Recommendation
Nick Giles
703-312-1815
ngiles@brileysecurities.com
Soundarya Iyer, CFA
212-271-4522
siyer@brileysecurities.com

We are initiating coverage of NioCorp Developments Ltd. (NB) with a Buy rating and a $12 price
target, implying more than 100% upside potential from current levels. NioCorp is a U.S.-based
critical minerals company advancing the Elk Creek Critical Minerals Project in southeastern
Nebraska, which is host to niobium, scandium, titanium, neodymium-praseodymium (NdPr),
dysprosium (Dy), and terbium (Tb). Our valuation is anchored on the view that Elk Creek is one
of the most de-risked critical minerals development projects in the U.S., yet the stock trades at
a meaningful discount to its $2.35B after-tax 2022 feasibility NPV (~0.3x P/NAV). We attribute
that discount to a market view of financing risk that is much closer to resolution than current
pricing implies. We believe there are several distinct catalysts in the near to medium term that
will support a strong re-rating in the equity: (1) an updated feasibility study that includes revised
capex estimates and rare earths economics, (2) the conversion of commercial agreements
(primarily with Traxys) from non-binding to binding, (3) continued progress with EXIM on
the pathway to $780M in debt financing, and (4) continued execution of early development
activities at site.
Key Points
• EXIM financing process remains on track. NioCorp's $780M debt application has cleared
all major EXIM review stages since 2023 and appears well-positioned to receive final board
authorization in the coming months. Alongside the EXIM facility, the company has raised
over $500M in equity since January 2025, covering the ~35% equity portion. We believe the
market still treats authorization as speculative and view this as a re-rating event that would
shift the framework from a discounted pre-production NPV to a construction-stage project
with a known capital structure and contracted revenue.
• Elk Creek to deliver ~5% of global niobium production. The project is fully permitted, sits
on private land outside NEPA and federal jurisdiction, and carries only a 2% net proceeds
royalty with no state severance tax. Metallurgy has been validated at a demonstration plant,
and mine portal construction began in February 2026. The 2022 feasibility study supports a
$2.35B after-tax NPV over a 38-year mine life, and the 36.7 Mt probable reserve is just 19%
of the 188.8 Mt indicated resource.
• Rare earths optionality. Elk Creek holds 125.8 kt of indicated neodymium-praseodymium
(NdPr), 9.1 kt of dysprosium (Dy), and 2.3 kt of terbium (Tb), one of the largest Dy and
Tb resources in the U.S. Metallurgical testing and process engineering have demonstrated
REE recoveries of 92%+. Traxys has committed to marketing 100% of planned REE output,
signaling commercial conviction ahead of a formal feasibility determination. REE economics
are expected to be included in the upcoming feasibility study, which we believe will be NPVpositive
and drive further revenue diversification.
• Highly concentrated niobium market. Brazil holds ~14 Mt of the world's 21 Mt+ in reserves
and produces 93% of global supply (85% from a single player), making it the de facto price
maker and keeping prices stable over the past five years. We view the U.S. as acutely
exposed, importing 100% of its ~10 kt requirement in 2025 (mainly HSLA steel and aerospace
superalloys) with no domestic production since 1959. The USGS identifies Elk Creek as the
only U.S. niobium mine and primary processing facility once operational. We believe this
positions the asset as a singular beneficiary of the supply-security premium that we expect
to accrue from domestically sourced critical minerals.

Panelists and topic - Critical minerals in Defence Tech: The Hidden Backbone of Military Power
Assessing the US critical minerals stockpile and its role in stabilizing volatile Western prices, & the role of the government in price exchanges
https://www.benchmarkminerals.com/events/giga-usa

- Stacy Newstead, Materials Strategy & Risk Manager, Lockheed Martin
- Eric Shields, Senior Battery Advisor, OUSD Industrial Policy (https://www.businessdefense.gov/)
- James Trevey, CTO, Forge Nano (https://www.forgenano.com/)
- Mark Smith, Chairman & CEO, NioCorp
- Daniel Fletcher-Manuel, Director - Indexing & Derivatives, Benchmark Mineral Intelligence (https://www.benchmarkminerals.com/)

He should not have the time to attend these worthless conventions. He is heading for a silent june and 3 out of 3 missed verbal timelines. How many times can you bullshit the world and still expect to be taken seriously in conventions, interviews, and op-eds?

No detailed speaker write-up or biography for Mark A. Smith appears on the official Giga US 26 event pages (Benchmark Mineral Intelligence). He is simply listed as:
Mark Smith
Chairman & CEO, NioCorp
He is participating in a panel titled “Critical minerals in Defence Tech: The Hidden Backbone of Military Power” (around 10:30–11:10 on one of the days, June 9–10, 2026).

The sector was smoking hot and then over the past week...it was not. I'm currently in Taipei and had dinner with my Asian rep. He states areas in Mongolia have turned into boomtowns...Cities going up in matters of months all catering to Rare Earth mining. They are willing to pay exorbitant prices for simple products just to keep the shelves stocked. That's how China is far superior to the U.S. They get shit done. We can't even decide paper or plastic. We are losing the rare earth race and we're falling further behind.

I wonder if NioCorp will be presenting at the 2026 U.S critical minerals summit this week?? I’d assume so but couldn’t find anything on it.
I mean it’s in D.C so maybe jim sims can use all his D.C influence?

https://events.uschamber.com/USChamberofCommerceCriticalMineralsSummit2026

Maybe I was off a little bit, I bought it $.12 it went up to $1.80 so 15x

Total shares purchased 400,000 $.17 avr

And I had to believe in Mark
And if I’m not mistaken, there were only 85,000,000 shares outstanding
How is that for bragging lol

But, but, but what happened with the claim of this being on the cusp of total and complete funding made in 2016?

So much for the claim of the “NASDAQ BEING the GAME CHANGER” from a few years ago 🤔

Oh wow were you really up 20x on your original investment?? Thats amazing. I woulda sold in a heartbeat and waited to buy back in. I honestly don't think we will ever see that multiple again after the spac and full dilution plus the dilution we dont even know about yet. 10x is a stretch goal here I think. I realize this is supposed have a huge market cap with the REEs and all. Are we producing REEs? I know we want to recycle magnets.

I mean, here we are expecting a binding word with exim by the end of june, along with an imminent binding contract with traxys and also wondering what the mine will cost to build at the exact same time. The binding traxys contract is a huge part of exim approval. Lots of chickens and eggs sitting around what comes first?

Happiness is, always knowing you will never get away from buying at the best price ever, after being invested for a 10 years tenure with Chairman and CEO Mark Smith.

Hip Hip Hoorah, for the best price in Ten years (or more!!)

Thank God, I wasn’t stupid 10 years ago and only walked away with 20 times my money, just for joining the TSX

If only we had of joined the NASDAQ back then instead. LoL

Detroit’s Lesson for Critical Minerals Investors: Supply Chains Cannot Be Financialized Forever Jack Lifton June 8, 2026
https://investornews.com/critical-minerals-rare-earths/detroits-lesson-for-critical-minerals-investors-supply-chains-cannot-be-financialized-forever/
For investors, however, an important conclusion emerges.

Many North American mining companies increasingly portray themselves not simply as mineral producers but as future participants in sophisticated manufacturing value chains. Their valuations often reflect assumptions based not on traditional mining economics, but on the substantially higher margins associated with advanced manufacturing.

This distinction matters.

Mining remains a cyclical, capital-intensive business characterized by volatile commodity prices and significant operational risk. Manufacturing businesses, when successful, can generate more stable margins based upon intellectual property, process control, and customer qualification.

The path from mineral deposit to qualified manufacturing supplier is neither automatic nor guaranteed. Discovering a deposit is only the beginning. Building a competitive business requires technical expertise, operational excellence, customer qualification, and the ability to execute consistently over decades.

Detroit’s experience demonstrates that supply chains evolve over time and require continuous operational discipline. Financial structures may facilitate industrial development, but they cannot substitute for technical expertise, manufacturing capability, and proven execution.

Critical minerals are essential to modern economies. However, investors should distinguish carefully between companies with credible strategies for moving downstream and those relying primarily on promotional narratives that assume manufacturing margins can be achieved simply by owning mineral resources.
Sounds like a good argument to buy NioCorp!

Greenland Mines Lands a Site Team at Sarfartoq Within Days of Signing, Setting Up a 2026 Rare Earth Field Program
https://www.baystreet.ca/stockstowatch/23429/Greenland-Mines-Lands-a-Site-Team-at-Sarfartoq-Within-Days-of-Signing-Setting-Up-a-2026-Rare-Earth-Field-Program

Companies mentioned:

• Greenland Mines Ltd (Nasdaq: GRML)

• MP Materials Corp. (NYSE: MP)

• Energy Fuels Inc. (NYSE American: UUUU)

• Critical Metals Corp. (NASDAQ: CRML)

• NioCorp Developments Ltd. (NASDAQ: NB)

Rounding out the group, NioCorp Developments Ltd. (NASDAQ: NB) is advancing its Elk Creek critical minerals project in Nebraska, targeting niobium, scandium, titanium and rare earths — a reminder that niobium, flagged as a potential Sarfartoq by-product, sits within the same critical-minerals demand story. Collectively, the peer set underscores how much capital and policy attention is flowing toward non-Chinese sources of magnet metals, the category into which Sarfartoq squarely falls.

He also just posted the Emerging Growth Conference video from 2 months ago in the same thread.

John's 143 followers might want to reassess their confidence in his DD 🤣

Regarding the statement in that post:
The Trump Administration and federal agencies like the U.S. Export-Import Bank (EXIM) have been actively supporting the "Project Vault" initiative to fast-track financing and development for NioCorp Developments' Elk Creek critical minerals mine in Nebraska.

Google AI says:

The statement provided is not an official quote from a government document, corporate press release, or news article. Instead, it is a synthesized summary or user-generated premise that blends several overlapping facts into a single sentence.While the exact phrasing does not exist in a single source, the individual elements within it trace back to specific contexts:"The Trump Administration and federal agencies like the U.S. Export-Import Bank (EXIM)... Project Vault initiative": This portion stems from the White House and EXIM joint announcement on February 2, 2026, establishing Project Vault, a $12 billion critical minerals reserve."...to fast-track financing and development for NioCorp Developments Elk Creek critical minerals mine in Nebraska.": This reflects a combination of separate announcements. NioCorp officially issued a press release applauding the White House and EXIM's "Project Vault" launch. Concurrently, NioCorp announced a non-binding agreement with Traxys North America—a primary metals procurement agent for Project Vault—while separately seeking direct construction financing from EXIM for its Elk Creek Project in Nebraska.

Nice and vague. I wonder what they are referencing and if it is verifiable. There is no reference to the meeting mentioned.

They made another post to include a google search "niocorp whitehouse trump fast tracking financing"
but it just returns info from 2025 and project vault stuff that everyone has seen. Dud post. They sure are lathered up extremely bullish.

Post from different board
https://www.stocktwits.com/moneytrader2017/message/655694037

Announced timelines/ranges keep getting tighter. Hopefully that's a good thing.

No tellin'. Here's what Mark said in the 6/3 William Blair event about the CapEx:

@ 28:55 - I heard this as CapEx would be known, not necessarily that DFS would be released, but we can hope! 2-3 weeks is the 17th-24th
"I don’t know where it’s gonna turn out. I’m gonna know in the next 2 to 3 weeks and then I can speak to it more but but that is that’s a risk that we have to understand until we know what that number is we don’t know exactly what the CapEx is gonna be but that’s why I want to emphasize the EXIM loan that they’re working on is a 65% dept to equity ratio so if the CapEx goes up we’re still talking about more loan from them as well, so let’s not not as negative as what it may seem."
https://event.summitcast.com/view/DTqswnj6gGSWZ7ywFcvpAo/aKydXy6R8iNv44boVNuRZw

5 Junior Miners Positioned to Benefit from rising defense spending:

https://mugglehead.com/5-junior-miners-positioned-to-benefit-from-rising-defence-spending-a-mugglehead-roundup/

Speaking of the DFS. When will NioCorp drop the DFS news? I’m hoping they shock us all and deliver it this week. I’d hate for them to wait until end of June when most investors/media will be in 4th of July vacation mode.

Hopefully that all changes when the DFS drops.

https://www.niocorp.com/about-niocorp/
About NioCorp
NioCorp is developing a critical minerals project in Southeast Nebraska that will produce niobium, scandium, and titanium. All of these have been designated by the US Government as “critical minerals” to the US. The Company also is evaluating the potential to produce several magnetic rare earths from the Elk Creek Project, which have also been given the “critical mineral” designation.

I love how anytime NioCorp mentions our REE’s for NioCorp, it is “and potentially REE’s”, but here they can say,

Mark Smith, chairman and CEO of NioCorp Developments, which is working to bring a rare earth mine online in Nebraska

Perhaps they meant Wyoming,
or the Rift Project adjacent to NioCorp, rewarded to Dahrouge for a job well done. LoL

The Harsh Truth About China’s Critical Mineral Stranglehold

https://dailycaller.com/2026/06/07/opinion-the-harsh-truth-about-chinas-critical-mineral-stranglehold-james-carter/
Mark Smith, chairman and CEO of NioCorp Developments, which is working to bring a rare earth mine online in Nebraska, sees the pattern clearly. Evidence increasingly suggests Beijing’s strategy is to reserve critical minerals for domestic manufacturing rather than continue supplying Western industry. “Some Western leaders keep treating each new Chinese export restriction as a bargaining chip,” Smith wrote recently. “That is the wrong way to read what is happening.” The restrictions aren’t leverage. They’re a door being closed.

Actually, nobody gives a shit at all. Even old guys day trade.

Actually, nobody gives a shit at all. Even old guys day trade.

$0.37 out today is from my assumed price of $5.5 Wednesday.

You seemed don’t believe an old guy without TA could make money on stock market by observing price movements and by lucks.

$0.37 out today is from my assumed price of $5.5 Wednesday.

No problem th6565, you assumed the share price won’t go below $5.50 so you would be a buyer under $5.85 and based on today’s low you state categorically that you are only 37 cents out.
I’ll give it to you even though you said you would be buying under $5.85 just, because you are an incorrigible braggart.

We won’t even worry about the actual prices that you purchased at being $5.65 on Thursday and $5.15- $5.24 today.
You also said you were buying Wednesday which one can assume was at your Thursday purchase price of $5.65 or higher, which in and of itself is a $.41 difference “minimum”.

But you can be only $.37 out on your assumption to what the stock might do. We won’t worry about what you actually did buy at.

I’m surprised you didn’t put all that other stuff aside and just say you were 100% accurate on buying under $5.85

Good luck, keep up the good work.

Decided Wednesday to buy some shares below $5.85 by assuming PPS won’t go down below $5.5.
Then Thursday bought some at $5.65 and some today at $5.15–$5.24.

If reds again next week I will buy some more. Eventually I am hopeful NB PPS will rebound. It is so simple for a guy without TA.

Are there any problems??

We closed yesterday at 5.89 and today you were only off by 37 cents from the low which was $5.12 , which is $5.49

So you were expecting it to drop all the way down to $5.49 if by chance it was Red today, after we were green yesterday?
Below all moving averages on a hunch / assumption?

Ok lol

I’m guessing it fell too fast for you and when you finally figured out, you should put in a bid then you were $.37 above the low

This is what I mean by are you ok? Are your handlers close by? Nobody is concerned with how you conduct day trades.

Last time PPS went down to $4.16 I didn’t get hurt, would like to bet with you it will rebound back this current slides.

MP down 10%. USAR something like 17%.

Basically it boils down to the idea that the next rate move by the feds is much more likely to be up than down. Something like 70% chance for a rate increase December 2026.

Nothing to do with NB or the plethora of other stocks getting pummeled today.

No reason for it to go up. CEO is seemingly full of crap again.

I bought over 2,000+ additional shares today and lowered my cost per share average. Purchased at $5.14-$5.24 not the lowest for the day but expect a nice bounce back next week. Either way, I’m not selling til I reach short term Andrew Jackson or Ulysses S. Grant territory in 3-4 years. Have a good weekend all😀

I was off by $0.37 based on today’s low.

I will follow PPS next week but hope it won’t continue sliding like last time.

I am doing OK without TA.

and why did NB slide 12.31% today? just curious.